EUR/USD 8AM DELK Reverse box
Delk Reversal. My stop loss was to small. Today the Euro stopped me out before reversing again towards my target. I did not get in at high ,instead I waited to drop below the candle body giving my stop less room to operate. The second long tail up went 5 pips higher and stopped me out. too bad…… This trade can also be presented as a nice forex range box channel breakout. 5M Chart. note: The pair is near a bounce short entry as it is almost back to former support.
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GBP/USD 5M Pass thru
We have 5 in a row payoffs on the pass thru trade on the Pound. Wohoo. It moved through right on the midnight candle. No time for laggers to post their trades.
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EUR/USD 1HR Falling wedge 2/26 9PM PST
The picture says it all. Falling wedges often break up. This one may break to the downside because of flight to safety sentiment. I will be watching the candles closely if it approaches the trend line or base line.
Update… 3/1/09 The pair did break down, but is vascilating up and down on this resistance line. Maybe a big move will begin on monday.
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GBP/USD 5M Pass Thru trade 2/26
Here we go again. Four days in a row the midnight pass thru trade has paid off.
Set your trade at midnight PST and go to sleep. We may be pressing our luck playing it Friday. Right at Midnight good for another 25 pips, with 25 at risk. Post Trade Grade = A.
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GBP/USD 5M MIDNIGHT STRADDLE 2/25
Last night, tuesday morning, I have an example of a pass through straddle that was set at midnight on either side of the price at that time on the Pound. As you can see, it paid going both ways. This is how we extract money from a volatile market that does not have a trend.
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Continue reading about Pass Through Range box Wendsday morning
GBP/USD 2/24 stop hunting after midnight
No range boxes in sight this evening. Watch for stop hunting ranges to develope after midnight PST. As we have seen lately there are times when the markets are just ranging back and forth and there are no breakouts to trade and the breakouts we do see turn out to be false breakouts. Better to just sit it out or trade stop hunting ranges.
The GBP/USD pass thru stop hunting trade paid out last night but the Euro did not. We are finding that the Pound seems to work better with this trade style.
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12M PST EUR/USD 5M
Tonight we have another example of the stop hunting pass thru trade. It goes through the range box 25 to 00 shortly after midnight as shown by the red line. The trading range box is highlighted.
GBP/USD 5M Midnight pass thru 2/23
Edit…. On monday morning we also had a midnight pass through trade pay out on the Pound.
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Continue reading about Euro Stop Hunting range box- Mon Morn.
GBP/USD 4HR
I am focusing my attention on this GBP/USD pair with a side eye on the Euro. We may see a break off of the trendline at 1.47, possibly at the Sunday open. The Euro broke its trendline late friday and returned to it before closing. The long term trend is down so that is the preferred trading direction.
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